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The rupee touched a fresh low against the dollar and shares plummeted again as
India continued to bear the brunt of an emerging markets sell-off.

The rupee slipped 2 per cent to 64.52 against the dollar after traders brushed
aside intervention by the Reserve Bank of India, which traders said had been
buying the greenback to prop up the currency.

Moreover, they warned, there is worse to come. Deutsche Bank warned of a
further slide to 70 rupees per dollar, emphasising that India was suffering
from a “scenario of deep pessimism” that was likely to remain in place “for
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